GISS, 1987 – Table of Benefits upto October, 2023

GISS, 1987 – Table of Benefits upto October, 2023

 WB FINANCE (CLICK HERE)

GROUP INSURANCE SAVINGS SCHEME (CLICK HERE)

 

GOVERNMENT OF WEST BENGAL
FINANCE DEPARTMENT
AUDIT BRANCH

No. 061-F(J)-W.B, Date: 10.08.2023

MEMORANDUM

SUBJECT: State Government Employees Group Insurance Scheme, 1987 – Table of Benefits under Savings Fund for the year of cessation of Membership 2023-2024.

In continuation of this Department’s Memo No 031-F(J)W.B. dated 11.05.2023, the undersigned is directed to say that a new table of benefits showing accumulation of savings fund under the above mentioned scheme corresponding to a unit subscription of Rs. 10/- (Rupees Ten) only per month has been drawn up for the period from 01.08.2023 to 31.10.2023 in matching with the Central Government Employees Group Insurance Scheme, 1980 circulated under GOI’s OM No. 7(2)/EV/2016 dated 16th December, 2022.

2. A copy of the said table is enclosed herewith as ready-reckoner. The figures have been worked out on the basis of the rate of interests as follows:-

From To Interest p.a. (compounded quarterly) From To Interest p.a. (compounded quarterly)
01.11.1987 31.10.2001 12% 01.05.2020 31.10.2020 7.9%
01.11.2001 31.10.2002 11% 01.11.2020 31.01.2021 7.9%
01.11.2002 31.10.2003 9.5% 01.02.2021 30.04.2021 7.1%
01.11.2003 31.10.2004 9% 01.05.2021 31.07.2021 7.1%
01.11.2004 31.10.2012 8.0% 01.08.2021 31.10.2021 7.1%
01.11.2012 31.10.2013 8.6% 01.11.2021 31.01.2022 7.1%
01.11.2013 31.10.2014 8.8% 01.02.2022 30.04.2022 7.1%
01.11.2014 31.10.2017 8.7% 01.05.2022 31.07.2022 7.1%
01.11.2017 31.01.2018 8.0% 01.08.2022 31.10.2022 7.1%
01.02.2018 30.04.2018 7.9% 01.11.2022 31.01.2023 7.1%
01.05.2018 31.10.2018 7.8% 01.02.2023 30.04.2023 7.1%
01.11.2018 31.07.2019 7.6% 01.05.2023 31.07.2023 7.1%
01.08.2019 30.04.2020 8% 01.08.2023 31.10.2023 7.1%

The mortality rate continues to remain unchanged.

3. The amounts shown in the table are applicable (with the fractions) for one unit and to be rounded off after calculating the final amount payable.

4. The amounts shown in the table are applicable to a member of Group-D category. Corresponding amounts for the member of higher groups may be calculated proportionately.

5. It is assumed that subscriptions have fully been realized from salary up to the month in which a member ceases to be in service, failing the same shall be deducted with interest from his/her entitlement.

Sd/- G.C.Paul
Joint Secretary to the
Government of West Bengal

ENCLOSURE TO THE FINANCE DEPARTMENT MEMO NO: 061-F(J)-WB DATED: 10.08.2023

TABLE OF BENEFITS SHOWING SAVINGS FUND ACCUMULATIONS UNDER THE GROUP INSURANCE SCHEME, 1987 FOR SUBSCRIPTION @ RS. 10/- PER MONTH,

YEAR OF CESSATION 2023-2024.

MONTH OF CESSATION FROM AUGUST, 2023 TO OCTOBER, 2023.

YEAR OF ENTRY August, 2023 (In Rupees) September, 2023 (In Rupees) October, 2023 (In Rupees)
1987 22840.03 22981.38 23123.55
1988 20410.62 20537.67 20665.48
1989 18213.05 18327.18 18441.98
1990 16257.10 16359.73 16462.96
1991 14518.31 14610.71 14703.65
1992 12975.44 13058.76 13142.57
1993 11608.89 11684.17 11759.90
1994 10389.29 10457.39 10525.91
1995 9306.82 9368.57 9430.67
1996 8346.81 8402.91 8459.34
1997 7494.56 7545.64 7597.03
1998 6735.37 6781.99 6828.88
1999 6059.44 6102.08 6144.98
2000 5467.44 5506.60 5545.99
2001 4937.80 4973.84 5010.10
2002 4461.35 4494.59 4528.03
2003 4031.67 4062.38 4093.27
2004 3639.47 3667.88 3696.45
2005 3278.79 3305.07 3331.51
2006 2945.57 2969.90 2994.37
2007 2637.73 2660.25 2682.89
2008 2353.34 2374.18 2395.14
2009 2090.60 2109.90 2129.31
2010 1847.87 1865.74 1883.71
2011 1623.63 1640.18 1656.82
2012 1416.29 1431.62 1447.05
2013 1225.78 1239.99 1254.29
2014 1051.00 1064.18 1077.44
2015 890.70 902.94 915.25
2016 743.62 754.99 766.43
2017 608.67 619.25 629.89
2018 484.34 494.19 504.09
2019 369.16 378.33 387.56
2020 262.63 271.18 279.77
2021 163.89 171.86 179.87
2022 71.88 79.31 86.77

Sd/- G.C.Paul
Joint Secretary to the
Government of West Bengal

 

 

DOWNLOAD ORDER COPY:-

DOWNLOAD LINK-1

DOWNLOAD LINK-2

 

kamaleshforeducation.in(2023)